Han, S H and Diekmann, J E (2001) Making a risk-based bid decision for overseas construction projects. Construction Management and Economics, 19(8), pp. 765-776. ISSN 01446193
Abstract
The globalization of international construction markets provides tremendous opportunities for contractors to expand into new foreign markets. However, entry decisions for international construction markets are very risky and more difficult than those for domestic markets, due to the wide variety of uncertainties and complexities associated with the international construction domain. This paper focuses on developing and testing a 'risk-based go/no-go decision-making model' for contractors who wish to expand into international construction markets. The go/no-go decision model applies the cross-impact analysis (CIA) method to assess the various uncertainties associated with international construction. This research draws significant findings regarding the benefits of this go/no-go decision model from experimental studies involving 56 participants.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | cross-impact analysis; experimental case studies; international projects; risk analysis; risk-based entry decision model |
| Index terms: | markets, testing, international construction, case study, complexity, impact analysis, risk analysis, international project, globalization, construction project, decision-making, experiment |
| Subjects: | data collection methods, strategic management, economic analysis, professional practice, data analysis and analytics, production management, environmental hazards, economic factors, systems engineering, decision analysis |
| Topics: | Sustainability, Risk Management, Engineering Principles, Research Practice, Project Management, Business Strategy, International Construction |
| Descriptive scope: | 4 PCEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here